Steel Partners (NYSE:SPLP) Shares Gap Up – Should You Buy?

Steel Partners Holdings L.P. (NYSE:SPLP) shares gapped up before the market opened on Thursday . The stock had previously closed at $41.50, but opened at $45.00. Steel Partners shares last traded at $45.00, with a volume of 551 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Steel Partners in a research note on Wednesday. They issued a “strong-buy” rating on the stock.

Steel Partners Price Performance

The stock has a market cap of $824.96 million, a price-to-earnings ratio of 4.41 and a beta of 1.38. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. The company has a 50-day simple moving average of $41.12 and a two-hundred day simple moving average of $39.32.

Institutional Investors Weigh In On Steel Partners

A number of large investors have recently added to or reduced their stakes in the business. De Lisle Partners LLP increased its stake in shares of Steel Partners by 83.0% during the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock worth $924,000 after purchasing an additional 10,377 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Steel Partners by 2.5% during the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after buying an additional 635 shares in the last quarter. Finally, Gabelli Funds LLC grew its position in shares of Steel Partners by 0.3% during the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock worth $22,207,000 after purchasing an additional 1,700 shares in the last quarter. Institutional investors own 50.75% of the company’s stock.

About Steel Partners

Steel Partners Holdings L.P., together with its subsidiaries, engages in industrial products, energy, banking, defense, supply chain management, logistics, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, Financial Services, and Supply Chain segments. The company fabricates precious metals and alloys into brazing alloys; manufactures and sells seamless stainless steel tubing coils; fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and woven substrates of fiberglass, quartz, carbon, and aramid materials for specialty applications.